Breakdown or cycle rescue cover will help out if you break down a certain distance from your home. It can pay for travel expenses to take you and your bike home.

Personal accident cover will pay out a lump sum if you suffer a severe injury, such as loss of a limb, permanent total disablement, blindness, loss of function in a body part and death.

Some policies, like PedalSure's, for example, can even cover some hospital expenses, out-of-pocket expenses and loss of earnings (if you select these features) following an injury.

Loss, theft and damage cover can pay to have your cycle fixed or even replaced if it is beyond repair. Many bicycle insurers operate a new-for-old policy so you should get a new model that's the equivalent value of your bike.

Accidental damage and theft are unlikely to be covered by a home insurance policy if they happen away from your home.

Make sure to read the small print of your policy. Not all bike locks are accepted by insurers and many companies will only pay out if you have a lock that is on the Master Locksmiths Association ‘Sold Secure’ list.

Replacement cycle hire cover can save you the inconvenience of having to secure an alternative form of transport while waiting for your cycle to be repaired or for your new one to be delivered. A lot of bicycle insurance providers include this cover as standard.

Other bicycle insurance policies might include or offer these features as add-ons:

Road rage cover

Worldwide cover

Sportives, racing and competition cover

Race fee cover

Bike box cover

Road rage assault cover pays for medical fees incurred due to an injury sustained in an assault on the road. Some insurers, like Velosure, would also cover counselling and some hospital expenses.

Worldwide bicycle cover is offered by most specialist bicycle insurance providers. Some, like Bikmo, include it as standard.

Sportives, racing and competition cover would pay out if you had an accident or damage your bike or equipment while participating in an event. Some policies also cover entry fees if you have to cancel before an event because of an injury or illness.

Yellow Jersey also offers triathlon insurance – one of the products you can get a 10% discount on if you join the group. Learn more about triathlon insurance here.

How much does bicycle insurance cost?

A bicycle insurance policy from Bikmo for a £1,500 bike costs around £158 per year, or around £13 a month. It includes cover for personal accident, personal liability, replacement hire, breakdown and theft as standard.

Bicycle insurance can cost anything from around £25 a year to over £200 per month. The more expensive your bike, the more expensive your cover. The cost of your bicycle insurance can also depend on factors such as your postcode and the comprehensiveness of the cover you choose.

We got quotes from ETA for a bike that costs £1,000 in West London in November 2017, and our annual premium was quoted at around £112 a year. A quote for a £2,000 bike was about £213 a year. A quote for a £3,000 bike was over £300.

ETA offers comprehensive bicycle insurance that includes race and triathlon cover as standard.

Some insurers, like CyclePlan and PedalSure, offer bicycle insurance that has one or two levels of cover as standard and allows you to choose the rest of your policy features.

Cheap bicycle insurance

You can get bicycle insurance from around £25 a year if you own a cheap bike.

Joining a membership scheme could give you access to some cover for a small fee. The British Cycling scheme offers cover for liability and personal accidents, but it offers no cover for your bike and you are not allowed to make a claim against another member.

A British Cycling membership is required to enter most races in the UK but remember, you won't be able to claim against other members taking part.

Cheaper, less comprehensive bicycle insurance policies might have lower limits and more exclusions, which could potentially result in you having to foot the bill if anything does happen.

Opting for a higher excess might reduce the amount of your monthly/annual premiums but would mean you'd have to cover that cost every time you claim.

While your bicycle insurance will cover your bike if it gets damaged while you’re away, you will not get all the benefits that a travel policy offers.

Similarly, although a comprehensive travel insurance policy might be able to cover you for travelling by your bike, you might have to purchase an add-on that will make your travel insurance a lot more expensive, and significant limits might apply.

What about the bicycle cover on my home insurance?

Home insurance policies might provide cover for theft and accidental damage if either happen on your property. You will often have to select bicycle cover as an extra when buying your home insurance and there are often strict rules about where and how you have to store your bike.

Some specialist bicycle insurance may have higher limits than home insurance policies and they should cover your bike while it is stored at home.

Along with covering you and your bike while you're out and about, having a separate cycling insurance also means you won't have to make a claim on your home insurance, which can push your premiums up when you renew.

Or see our group for home insurance for cyclists where we have an exclusive deal with Neos home insurance. Our members will receive a free Tile tracking device if they buy Neos cover through our group.

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